Heaptalk, Jakarta — State-owned Enterprise (SOE) payment gateway LinkAja posted an Average Revenue per User (ARPU) of 34% and a cumulative retention rate of about 75%. LinkAja also has over 93 million registered user bases, 1.4 million cash deposit-withdrawal points, and 2.9 million merchants registered in its application.
LinkAja’s QRIS transaction growth was dominated by logistics delivery, with religious donations increasing by 60%. QRIS payments using LinkAja were mainly used for grocery shopping, FMCG, fuel and energy, and e-commerce shopping, with a 20% transaction increase. This growth has influenced the company to continue optimizing the QRIS transaction through cross-border QRIS, which is available in Malaysia and Thailand.
Furthermore, other LinkAja’s performance during the period June 2023 – June 2024, including:
- The Telkomsel ecosystem’s gross transaction value (GTV) improved to 159%.
- The number of Telkomsel resellers increased by almost 15%.
- GTV of fuel and energy products in Pertamina’s ecosystem rose 52%.
- The number of gas station merchants increased by 14%.
- The number of MSME merchants in the marketplace elevated by 15%.
- Revenue from using LinkAja in e-commerce enhanced by 16%.
“The company’s growth, from value to average transactions, was achieved through optimization of various ecosystems in LinkAja, such as purchasing digital products in collaboration with LinkAja and Telkomsel through DigiPOS and collaboration between LinkAja and Pertamina through MyPertamina transactions,” LinkAja’s President Director, Yogi Rizkian Bahar, affirmed.
Prior to obtaining this fantastic performance, LinkAja secured an undisclosed amount of its strategic investment from Mitsui & Co., Ltd. This funding will amplify LinkAja’s ecosystem and business strategies, including collaboration with the company’s SOE shareholders. Last year, LinkAja also achieved business improvements, with positive EBITDA for two consecutive quarters at the end of 2023. On the other hand, LinjAja also accomplished efficiency by reducing marketing cost components by more than 80% YoY in August 2023.
LinkAja continues focusing on the end-to-end activation of the BUMN B2B2C business model value chain by utilizing all financial services and the digital ecosystem. In maintaining its business performance, this startup will reinforce the SOE ecosystem as a critical competitive advantage as a digital financial solution that supports the development of payment infrastructure, covering continuing the incentive disbursement service initiative and loyalty point exchange platform within the scope of SOE enterprises.